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Piece Meal
The three dominant cellular operators endash Celltel, Mobitel and Dialog endash had earlier put in a joint proposal for an across the board Rs. 2.00 increase for all outgoing calls during peak times. rnrnInstead, the Telecommunications Regulatory Commission (TRC) has responded with a Rs. 1.00 increase for Mobitel, Rs. 0.75 raise for Dialog and a […]
Gaining Altitude
Making a modest come back after a disastrous year, SriLankan Airlines on Wednesday reported a Rs. 1.4 bn post-tax profit for the financial year ending March 2002, from a Rs.5.8 bn net loss in 2001.The Group, which includes SriLankan Catering, made an accumulative profit of Rs.2.0 bn. rnrnFollowing terror attacks of 9/11 and July 24, […]
Golf In Paradise
While, golf will remain the on the main menue, AmCham (American Chamber of Commerce), the tournaments organisers, will be busy serving up potential investment opportunities in Sri Lanka. rnldblquote We are working on a theme of lquote Peace in Sri Lanka and golf in paradise, dblquote says Susantha Pinto, Chairman of AmChams Golf Committee at […]
Rough Ride
The government was earlier planning to sell the bus companies on the Colombo bourse on Wednesday. rnrnPolicy Planning Ministry Advisor R Paskaralingam told Lanka Business Online that the sale would however go through as planned, but prospective bidders have sought extra time to arrange finances. rnrnldblquote By extending the deadline, we will also advertise for […]
Carrots For Sale
Talks to woo back SLT quote s Japanese partner NTT, have resurfaced once again, with both parties keen to strike a fresh pact.rn rnNTT, which owns a 35 percent stake in SLT, lost its management contract Monday. SLT also lost its monopoly on international voice calls on Monday.The government controls 61.5 percent of the telecom […]
Hitting The Roof
The overall increase hovers around 30 percent, some motorists face higher premiums of up to 75 percent, while third party cover has doubled by 100 percent. rnrnFollowing intense discussion between the Insurance Board of Sri Lanka (IBSL) and the industry, the watchdog agreed to deregulate motor tariffs from January 1. rnrnBut tariffs were not revised, […]
Nobly Curve
Central Bank officials say that an initial Rs. 5 bn worth 10 or 12-year bonds will hit the market soon. rnrnThe bank expects long term investors like insurance companies and the captive funds like EPF and ETF to subscribe to the issue. rnrnldblquote We have spoken to the investors like insurance companies and provident funds […]
Bumpy Ride
Prospective buyers are expressing reservations over government plans to hold majority stakes in the regional bus companies to be sold next week.The 13 regional bus companies are due to trade on the Colombo Stock Exchange on Wednesday, with the government continuing to hold a majority 51 percent stake. rnrnThe government expects to inject an estimated […]
HSBC at the back end
Its credit card infrastructure is capable of handling 300,000 cardholders. rnrnOfficials say banks that wish to offer cards to customers can issue cards under their own brand, using HSBC facilities. rnrnldblquote Since we have the infrastructure which can handle a volume three times of the volume we have now we are now looking at anyone […]
HDFC aims for Rs. 2 bn
Housing Development Finance Corporation (HDFC) says it will raise more funds from mortgage-backed securities following the runaway success of the first two tranches. rn rnLast week it raised Rs. 250 mn from DFCC, Commercial Bank and Union Assurance.Earlier this year it raised Rs.500 mn from National Savings Bank. rnrnPlacing agent Capital Alliance says the latest […]